On Tuesday 28 October 2014 the House of Lords EU Economic and Financial Affairs Sub-Committee will hold evidence sessions exploring the key role that EU and national authorities play in the financial regulatory system. They will also explore the relationship between national and EU supervisors, and the changing landscape of EU securities and markets.
The Committee will hear evidence on the EU financial regulatory framework from:
- David Lawton, Director of Markets, and Christopher Woolard, Director of Policy, Risk and Research, Financial Conduct Authority (FCA)
- Verena Ross, Executive Director, European Securities and Markets Authority (ESMA)
The evidence sessions will commence at 10:05am in Committee Room 3 in the House of Lords.
Questions that the Committee will put to the witnesses include:
- What is your overall assessment of the regulatory reforms that were brought in since the outbreak of the financial crisis?
- Has there been a tendency towards silo-based regulation and a lack of joined-up thinking in the EU’s approach to financial services regulation?
- What is the role of ESMA and the other ESAs? Do they have sufficient powers and resources to do their job effectively? How does the FCA interact with their work?
- What are the benefits and challenges of new regulations that aim to improve the transparency, sale and disclosure information of financial and consumer products?
- What are the key challenges faced by the FCA as a UK regulator within the wider EU regulatory climate?